Confirmation hearing set for Trump’s Fed chair nominee, top Republican says
By Bryan Mena, CNN
Washington (CNN) — Senators next week are set to consider President Donald Trump’s nomination of Kevin Warsh to be the next chair of the Federal Reserve, according to Sen. Tim Scott, who leads the committee that approves nominees to the central bank.
In a Tuesday morning interview with Fox Business, Scott said the hearing is scheduled for “next week,” but didn’t provide a specific date. CNN has reached out to the Senate Banking Committee for details.
For a presidential nomination to be considered by senators, the nominee must submit paperwork on their finances and any potential conflicts of interest. And, according to Senate rules, there must be a one-week notice for a hearing to take place.
That paperwork was filed late Monday and posted publicly online Tuesday, detailing Warsh’s substantial wealth and various positions on corporate boards. It also details the significant financial holdings of his spouse, Jane Lauder, who is the granddaughter of cosmetics mogul Estée Lauder.
However, a fight between the White House and Sen. Thom Tillis of North Carolina, a senior Republican on the committee, could torpedo Warsh’s confirmation. For months, Tillis has refused to back Warsh’s nomination unless the Justice Department drops its investigation into Fed Chair Jerome Powell and testimony he gave to Congress on a multibillion-dollar renovation project to the Fed’s headquarters.
Scott told Fox he believes “the DOJ will finish and wrap this up in the next several weeks and Thom Tillis will be a yes on Kevin Warsh.” CNN has reached out to Tillis’ office.
This story is developing and will be updated.
The-CNN-Wire
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